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What is the book value of the note a year after its issuance

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Reference no: EM132559244

Question - On January 1, a 5-year, $5,000 non-interest-bearing note payable was issued when the market rate of interest was 9%.

Required -

a. What are the proceeds from this issue?

b. What is the book value of the note a year after its issuance?

Reference no: EM132559244

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